Quami Bachat Updated Profit Rates For Short-Term Saving Certificates [Nov 2024]

Attention all business owners in Pakistan, the latest update has been released. The profit rate for November shows a significant decrease.

As a result of decreased inflation and positive economic indicators, the Central Directorate of National Savings (CDNS) reduced the profit rate for Short-Term Savings Certificates on November 4, 2024.

Also Read: Benazir Bachat Scheme Registration

The Quami Bachat’s profit rate for November 2024 has been updated

Explore the Quami Bachat Rate for the STSCs program, launched by the government in 2012 to cater to investors’ short-term financial requirements. The certificates are available in three varying terms of maturity: three, six, and one year.

STSCs پروگرام کے لیے موجودہ قومی بچت کی شرح کو دریافت کریں، جسے حکومت نے 2012 میں سرمایہ کاروں کی مختصر مدت کی مالی ضروریات کو پورا کرنے کے لیے شروع کیا تھا۔ سرٹیفکیٹس تین مختلف میچورٹی شرائط میں دستیاب ہیں: تین، چھ، اور ایک سال۔ پاکستانی شہری اور پاکستان سے باہر رہنے والے دونوں اس آپشن میں سرمایہ کاری کر سکتے ہیں، جو کہ 3 ماہ، 5 ماہ اور 1 سالہ میچورٹی پلان پیش کرتا ہے۔ اس زمرے کے لیے کوئی زیادہ سے زیادہ حد نہیں ہے، حالانکہ دلچسپی رکھنے والے سرمایہ کاروں سے کم از کم 10,000 روپے جمع کرانے کی ضرورت ہے۔

Both Pakistani nationals and those residing outside of Pakistan can invest in this option, which offers 3-month, 5-month, and 1-year maturity plans. There is no maximum limit for this category, although a minimum deposit of Rs 10,000 is required from interested investors.

Latest Profit Rate: Short-Term Saving Certificates 

Unlike the previous profit rate of 18.52% or Rs4,630, the CDNS has now established a three-month maturity profit rate of 14.32%, or Rs3,580, for every Rs100,000 invested.

The profit rate for the six-month maturity category has been set at 13.46% or Rs 6,730, in contrast to the previous rate of 18.22% or Rs 9,110.

Similarly, Qaumi Bachat Bank has decreased its annual profit rate for one-year maturity from 17.22% (equivalent to Rs17,220) to 12.96% (equivalent to Rs12,960).

Profit rate is eligible for tax deductions

Whether you are a taxpayer who files regularly or not, your rate of withholding tax on earnings from investments in CDNS schemes (such as STSCs) will be determined accordingly.

No matter when the investment was made or how much profit was earned, individuals registered on the Federal Board of Revenue’s Active Taxpayer List (ATL) are entitled to a lower tax rate of 15% on their yield. In contrast, those who are not listed on the ATL, known as non-filers, will face a significantly higher tax rate of 30%, effectively doubling their tax liability.

In Conclusion

The recently revised profit rates for Short-Term Savings Certificates mirror the positive economic conditions in Pakistan, characterized by a decline in inflation and encouraging indicators. While these lower rates may affect immediate gains, they are in line with the overall objective of stabilizing the economy. Despite this adjustment, investors can still take advantage of the secure and adaptable nature of this investment choice, which offers maturities of 3, 6, and 12 months without any maximum deposit limit.